Newspaper article The Morning Bulletin (Rockhampton, Australia)

Rocky Motel Sells for $3M; Queensland Buyer Enters Motel Trade

Newspaper article The Morning Bulletin (Rockhampton, Australia)

Rocky Motel Sells for $3M; Queensland Buyer Enters Motel Trade

Article excerpt

Byline: Sean Fox Sean.Fox@capnews.com.au

A ROCKHAMPTON motel has been sold for just under $3 million.

The Albert Court Motor Inn on Alma St has just been sold to a Queensland man by Kas Woch Real Estate.

Owner Kas Woch said the buyer had been in the restaurant trade for many years and had bought the property after he had decided to venture into the motel trade.

Mr Woch has predicted an influx of investors taking interest in properties within the region. "Obviously, with Rockhampton and the announcement of the Adani Mine, investors are gearing up to provide temporary accommodation for contractors and other workers as well as the mines that are already in operation in the towns west of Rockhampton," Mr Woch said.

Mr Woch shared why he believed people are investing in the motel trade.

"People can see there is going to be an increase in demand for temporary accommodation," Mr Woch said.

The annual income from rent at the motel is more than $364,000 and the tenant pays all outgoings. …

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